Nashville tech company Edgenet sold to Chicago-based Gladson

Edgenet, a Nashville tech company, was bought by Chicago-based e-commerce company Gladson, marking another significant exit for a local tech business.

Led by CEO Steve Proctor, Edgenet provides software services to retailers, manufacturers and suppliers that manages data and helps them improve sales processes. Proctor and Tim Stafford bought the company in a Chapter 11 bankruptcy sale, along with a private equity firm, in 2014, and the company employs 140 people.

Edgenet leaders emphasized the deal as a win for Nashville's tech sector. It comes more than a year after Nashville-based Emma was sold to a New York investment group.

“This is more than a celebration of Edgenet and the incredible team we’ve been honored to work with, which has made everything possible. It’s also a testament to the vitality of Nashville’s tech community," Proctor said. “This is a great time to be working in technology in Nashville. We are honored to be part of it and, hopefully, to have done our part to make it better.”

The terms of the deal were not disclosed.

“Gladson and Edgenet are leading players in the product content and information management industry, each with exciting technology-enabled service offerings," said Gladson CEO Paul Salay. "We are excited to bring these two great companies together in order to satisfy our clients’ desire for a single-source provider of product information across a wide variety of industries."